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CBS
Feb 17, 2013 10:30am EST
expect for the economy to grow from the middle out. so our hope is that this does not happen, that we choose-- rather than make this an ideological fight as it appears to be right now among some on the republican caucus, we just do a balanced approach to fix this problem. >> schieffer: i agree with all that b but when you have the speaker of the house saying i can't work with the president any more. every time i work with him i get bermuda. when he says he won't take on the liberals in his own party on reforming the social programs, and then you see the president he's not talking to anybody. he's out making speeches around the country. >> oh, i think that the president is-- he laid out in very complete detail-- >> schieffer: but what is he doing? what are the two sides doing to keep this from happening? >> you saw what he did on tuesday night during the state of the union when he laid out in detail on what he is prepared to do as it relates to fixing this problem. over the last several months we got agreement on $2.5 trillion in deficit reduction over the next 10 years. we're ready to
CBS
Feb 23, 2013 6:30pm EST
of thousands of jobs and the tens of millions of dollars those jobs bring to the local economy. >> i've also been very clear that there's an alternative. >> reporter: the president is using the potential loss of jobs to push congressional republicans into a deal, a deal that would lower the deficit by closing tax loopholes on higher income americans. >> are they seriously prepared to inflict more pain on the middle class because they refuse to ask anything more of those at the very top? >> reporter: but republicans say no deal on the sequester until the president proposes more spending cuts. >> so the question is why won't he work with us? and the answer, quite simply, is because he wants higher taxes. >> reporter: what both sides want is to blame sequestration on each other, and now, there is no parent movement toward compromise. the president has asked to speak to congressional republicans, but, jim no serious talks or negotiations have been scheduled. >> axelrod: thank you, wyatt. as the budget cuts draw closer consider this-- the federal government does $500 billion worth of business wit
CBS
Feb 20, 2013 4:30am EST
to do this, to reduce our deficits without harming our economy. but congress has to act. >> reporter: the white house wants a plan with smaller spending cuts and more tax revenues. republicans say the government is already too bloated and higher taxes should not be part of this equation. the budget expert says the automatic cuts will hurt the economy, even though most government agencies should be able to weather them. >> most organizations can manage a cut of 5%, 7% in their budget without long-term harm. i don't mean it won't be painful. it will be. >> reporter: allen simpson and erskine bowls who led a commission on the debt say it will be painful for lawmakers as voters start feeling the effects like longer lines at the airports. >> when that happens, they're going to come back to congress and say we're sick of this intrancyin intransigence intransigence, let's do something smart. >> reporter: they'll only have a few days when they return next week. danielle nottingham, cbs news, the white house. >>> on the "cbs moneywatch" now, going on the offensive agains
CBS
Feb 19, 2013 4:00pm EST
from the new director of the training economy, -- academy, major joseph smith on his priorities. >>> a delegation of lawmakers in cuba today. five senators are asking raul castro to release the maryland businessman to improve relations between the two countries. gross is serving a 15-year sentence for bringing communications equipment to the communist country. cuba said it is willing to release the 63-year-old. but in return, it wants washington to return five cube arn intelligence agents imprisoned in the u.s. >>> heated words today over the proposed gas tax. maryland house republicans say the state needs better management of transportation revenues, not more taxes. senate president mike hiller responded by calling them neanderthals in terms of their thinking. the bill would put a 3% tax on a gallon of gas. miller's proposal would make it harder to use in other budget holes. >>> well, it sounds like a hollywood action film. but for police in belgium, the robbery of millions of dollars in diamonds from a plane is very real. venita neyer --
CBS
Feb 17, 2013 7:00pm EST
, to let the people live as normally as possible, to let the economy flourish and move forward. >> simon: barak argues that if iron dome makes israelis feel more secure, less threatened, they'll be more willing to make peace with the palestinians. you wont find many palestinians who agree. >> husam zomlot: before the iron dome, they felt no pressure to make any concessions. after the iron dome, they will feel the pressure to... to make concessions? of course not. >> simon: husam zomlot is a p.l.o diplomat and a professor at bir zeit university. what's this demonstration here? as we walked with him through the streets of ramallah on the west bank, a group of protestors marched right past us. >> zomlot: certainly, it will not be the iron dome. >> simon: right. >> zomlot: this will not be the area, you know, of security. it might be about prisoners. most likely, it is about prisoners. >> simon: it was about prisoners, palestinians arrested by the israelis. people here have many complaints about their political and economic situation, but unlike hamas in gaza, the palestinian authority on th
CBS
Feb 15, 2013 11:00pm EST
into the local economy, the stores are all from baltimore and the 25 employees are local. >> you may need some under armour under your clothes. >> can you believe this day, 59 degrees at 3:00 p.m. and here it is, 36 and wet snowfalling. we have had reports up to 2 or 3 inches in northern carroll county, wet snow. no wind currently the dew point above freezing. anything falling is really melting right now but the barometer currently rising, another 3 inches. 36, still 40s. light rain approaching you guys but later tomorrow afternoon, tomorrow night, way down here, southern portions of maryland, may pick up another inch or so of snow from a different system. it will be a little pressure, that will form off the coast. to the west pretty much cleared out, 36 hagerstown. 28 oakland. temperatures low to mid-even upper 30s. westminster, picked up an inch and a half. it is stopped light west wind we did have pretty good gusts earlier now very light winds, just across the bay, south of dc, eastern shore, you will start seeing a wind shift and cooler temps movi
CBS
Feb 18, 2013 6:00pm EST
? >> reporter: police say counterfeit items hurt the economy and consumers still some shoppers don't see a problem with it. >> reporter: saturday morning, baltimore county police shut down all shopping at the flea market in dundalk. detectivesdetectives served warrants -- search warrants on 16 vendors. >> i thought it was a waste of time, when they can be out catching real criminals. and nobody really cares. >> reporter: rita baycoat says most flea market shoppers know they're buying knockoffs. but are only interested in finding a deal. >> everybody don't have the money to buy the authentic paraphernalia that they got out of here. especially for the teams. >> reporter: vendors are accused of selling everything from fake purses to electronics electronics and clothes. with bogus names like nike, apple and uggs. >> it's a huge industry. a multi-billion-dollar industry. >> reporter: last year, they raided the patapsco flea market in baltimore. they uncovered a massive counterfeiting ring with ties to new york city. >> reporter: homeland security says in
CBS
Feb 19, 2013 5:00pm EST
. >> there is a smarter way to do this, to reduce our deficits, without harming our economy. but congress has to act. >> reporter: the white house wants a plan with smaller spending cuts and more tax revenues. republicans say the government is already too bloated and higher taxes should not be part of this equation. >> reporter: budget expert isabel thawhill said the automatic cuts will hurt the economy, even though most government agencies should be able to weather them. >> most organizations can manage a cut of 5, 7%, in their budgets. without long-term harm. i don't mean it won't be painful. it will be. >> reporter: allen simpson, and erskine bowls who led a commission on the debt say it will be painful for lawmakers. as they start feeling the effects. like longer lines at the airport. >> when that happens, they're going to come and say, we're sick of this. let's do something smart. >> reporter: lawmakers will have just days to stop the spending cuts when they resume next week. >> the automatic cuts total $85 billion. the military alone will see a $46 bill
CBS
Feb 19, 2013 6:00pm EST
our economy. but congress has to act. >> reporter: the white house wants a plan with smaller spending cuts and more tax revenues. republicans say the government is already too bloated. and higher taxes should not be part of this equation. >> but expert isabel thawhill says the automatic cuts will hurt the economy. even though most government agencies should be able to weather them. >> most organizations can manage a cut of 5, 7% in their budgets. without long-term harm. i don't mean it won't be painful. it will be. >> reporter: allen simpson and erskine bowles say they will start feeling the effects of longer lines at the airport. >> when that happens, they're going to come to congress and say, we're sick of this. let's get together and do something smart. >> reporter: lawmakers will have just a few days to stop the automatic cuts when they return from recess next week. at the white house, danielle nottingham, wjz eyewitness news. >> and the automatic cuts total $85 billion. the military alone will see a $46 billion cut from the pentago
CBS
Feb 20, 2013 7:00am EST
that massive layoffs could cripple their economies. >> we don't need to wait to see the white in the eyes before we start responding because of the potential that we see. this challenge is real and real right now. >> reporter: well, with the deadline still nine days away, there's still a lot of posturing, and there's no sign that anyone's trying to make a deal. administration tells us that there are no secret talks or negotiations under way. the reason for that of course the obama administration thinks it's winning this debate and republican pressure will force republicans to give in. charlie, gayle? >> thanks. >>> cbs political correspondent john dickerson. good morning, john. >> good morning, charlie. >> put this for us in terms of what we're talking about and what we're not talking about. >> it's a good point. step back here. what we're not talking about in this sequester is the actual long-term drivers of this deficit problem so as people look at the fight, which is the 900th chap tur in the con stangt fights of the budget what's happening is the debate abo
CBS
Feb 20, 2013 11:00pm EST
problems. obviously it creates uncertainty in our economy. >> reporter: how badly would maryland be effected? the state is home to 17 military bases and 60 nonmilitary federal facilities. if those budget cuts do go through, education will be among the hardest hit in the state of maryland we could lose $55 million in funding for next year. now back to you on television hill. >>> republicans do not agree with the president's approach to the looming budget crisis. they say he is focusing too much on raising taxes not enough on cutting spending. >>> well, investigators are sifting through the rubble of a kansas city restaurant to find the source of a deadly explosion. a nearby surveillance camera recorded the blast. fire officials confirmed there was an accident at a nearby construction site but would not say if that set off the explosion. one person was killed 15 more injured. a winter storm moving through the area is expected to complicate the investigation. >>> much of the nation is bracing for that massive storm. 30 million people in 18 states
CBS
Feb 21, 2013 6:00am EST
the big problems. it creates a lot of oh uncertainty in our economy. >> how badly would maryland be effected? the state is home to 17 military bases and 60 non-military federal facility. more than 300,000 government workers live in the state. >> if the budget cuts go through education will be among the hardest hit. in the state of maryland you could lose as much as $55 million in funding for next year. >> republicans do not agree with the president's approach to the budget crisis. they said he's focusing too much on raiding taxes and not on cutting spending. >>> tonight the anne arundel county council will vote in a new county executive. former county executive john leopold resigned after being convicted of misconduct in office. now 16 people are vying for the job including former county council member john hammon and kendall urlik. the county council will interview the applicants today and vote tonight. >>> a winter storm closing in on kansas city is rushing crews to finish the search from the explosion and fire. one person is dead, 15 are injured after a natural gas explosion l
CBS
Feb 21, 2013 7:00am EST
. >> what are they saying and what are they saying about the economy? >> looking backward they're saying walmart had a very good christmas. they earned more than expected. they came in light on sales. however, going forward that's really a question. walmart is considered a bellwether for our economy and what they told us this morning is that the payroll tax cut is impacting consumers. the hike that we saw at the beginning of the year the 2% hike which takes about $20 out of people's weekly paycheck is hitting the consumer and gasoline prices are up 50 cents in the last month and there's a tell prey knock on the consumer right now because refunds have been delayed. the tax code had to be overhauled as a result of the many of the reforms of last year and they're saying their consumer has been hit by delays in the refund checks about $20 billion in refund checks didn't go out on time. >> all right. new information. rebe rebecca rebecca, thank you. >>> the obama administration plans fines, penalties, and trade sanctions against any government that sponsors hacking.
CBS
Feb 22, 2013 4:30am EST
to come for the nation's economy, walmart says it expects business to slow down in the coming months. the world's largest retailer reported higher than expected fourth quarter profits on thursday, but walmart said sales are weakening as customers battle rising gasoline prices delayed income tax refunds, and higher payroll taxes. >>> the gasoline prices are at their highest level for this time of year. aaa says the average price for a gone of regular is $3.78 nation wide. that's up 47 cents in the past month. aaa says the higher prices are due to seasonal maintenance at refineries. analysts expect gas prices to rise further in the coming weeks. and the outlook is no better at the supermarket. the u.s. department of agriculture says food prices will rise by as much as 3.5% this year. that's nearly double the rate of inflation. the steep rise is blamed on the severe drought that's gripping farmers and cattle ranchers in the nation's midsection. anne-marie? >> ines ferre here in new york. thank you, ines. >>> when we return, driving in the fast lane. danica patrick
CBS
Feb 23, 2013 8:00am EST
argument is it will cost jobs and hurt the recover i economy. >> my hope is we can see a different course taken by congress. this should be a no-brainer. >> reporter: the president has spend part of the last nine days appearing with the schoolchildren who could lose their teachers and with the first first responders who say they could lose their jobs if the spending money supporting them is cut across the board. i've been very clear that these kinds of arbitrary automatic cuts would have an adverse impact on family on teachers on parents who are reliant on head start programs on our military readiness, on medical health services medical research. this is not a smart way to reduce the deficit. >> reporter: but they point out the cuts will be gradual and very few policemen are paid with federal money. >> it's untrue unfair dishonest, disingenuous. he puts law enforcement -- he puts firemen and policemen who 98% of them are being paid for with your local taxes and says you're going to lose your local policemen because of this. it's not true. >> and yet fu
CBS
Feb 16, 2013 6:30pm EST
to a better economy. these investors in these companies feel good about their prospects. of course they have very low interest rates record low interest rates that they can borrow to help finance those purchases. and the shareholders in these companies feel like they're get a fair deal because stock prices are back close to record levels. activities are back to levels we haven't seen since before the great recession and i think that means the country is getting back to normal. >> axelrod: so confidence is going tow produce deals but i think what a lot of people want to know is what does that mean for job creation? >> good question. in the near term, i think it means job losses because most mergers and acacquisitions are about cost cutting although in the deals being done now i think cost cutting will be more modest than in times past. but in the longer run it will mean more jobs. this is necessary to get these companies in shape, these industries in shape. in the case of american airlines/us airways, the unions are in favor of about of it because they know they have to go through this to mak
CBS
Feb 19, 2013 7:00pm EST
these cuts are not smart. they are not fair. they will hurt our economy. they will add hundreds of thousands of americans to the unemployment rolls. this is not an and traction. people will lose their jobs. the unemployment rate might tick up again. >> pelley: mr. obama wants more tax revenue. the republicans say no and each side said it's up to the other to give in. major garrett is at the white house for us tonight. major, what next? >> well, the continued effort by the white house scott to apply public pressure on republicans to relent. this will be done in public to events like we saw today. it's already been done privately. top government officials are warning businesses they could be harmed by these looming spending cuts. here's one example we've learned. last friday top officials at the agriculture department warned meat and poultry producers that there might not be enough federal inspectors to keep their processing plants open and operating. these are designed to motivate businesses to plead with republicans to find another way. for now republicans appear prepared to take these spend
CBS
Feb 20, 2013 7:00pm EST
on wall street today. the dow lost 108 points to finish back below 14,000. but the entire economy is headed for trouble in just eight days when massive across-the-board cuts in the federal budget are scheduled to kick in automatically. these cuts were designed to be so deep and harmful that they would force the president and congress to find a better way. but they haven't. just for example there would be $46 billion cut from the department, and benefit cuts for 4.7 million long-term unemployed. we have two reports tonight. first, those defense cuts with david martin. >> reporter: of the 800,000 civilians who work for the department of defense, an estimated 700,000 would be furloughed for one day a week. according to the pentagon's chief budget officer robert hale, that would save between $4 and $5 billion. but it would all come out of people's paychecks. >> we feel we don't have any choice but to impose furloughs even though we would much prefer not to do it. frankly, this is within of the least -- the most distasteful tasks i have faced in my four years in this job. >> reporter:
CBS
Feb 18, 2013 4:00pm EST
a bright spot in the struggling economy. sales of 2012 were the best in five years. home prices have improved and construction of the new homes is on the rise. national association of realtors believes sales will continue to grow in 2013. >>> countries continue to trace food for traces of horse meat. it was eventually found in millions of burgers and frozen meals sold at supermarkets. it was also found in school meals and hospital foods in the uk. it's believed some of the horse meat was mixed in with beef in a processing plant and shipped out. >>> friday, sales on wall street finished flat. nasdaq fell 8. animated movie, characters like shrek, and kung fu padgedda, could soon be playing a starring role in russia. movie studio dream works said to a russian amusement park developer. would developer plan toss open indoor theme parks in moscow and st. petersburg in 2015. that's your money watch. in new york, i'm alison harmelin. >>> coming up on wjz's eyewitness news at 4:00, illegal immigrants. the president's plan and the controversy it's sparking
CBS
Feb 18, 2013 5:00pm EST
counterfeit items hurt the economy and consumers, still some shoppers don't see a problem with it. >> reporter: saturday morning, baltimore county police shut down all shopping at north point plaza flea market in dundalk. they served warrant -- search warrants on 16 vendors. >> i thought it was a waste of time, when they could be out catching criminals. and noble -- nobody really cares. >> reporter: rita says most flea market shoppers know they are buying knockoffs. >> everybody don't have the money to buy the authentic, the paraphernalia they got out here, especially for the teams. >> reporter: vendors are accused of selling everything from fake purses to electronics and clothes, with bogus brand names like nike, apple and ugths. >> -- uggs. it's a huge industry. a multibillion dollar industry. they raided the flea market in patapsco and uncovered a counterfeiting ring with ties to new york city. >> reporter: in recent years, counterfeiters have goen so good, their items are making it into main stream market places. and it can be pretty easy
CBS
Feb 20, 2013 4:00pm EST
safety ad advocates attribute the increase in part to more driving due to an improved economy. >>> no relief in site. as manuel bor heckies reports for wjz, there are a number of reasons why the price at the pump is on the rise. >> reporter: fires at two different chevron refineries in california are bad news for drivers on the west coast. while in the northeast, lingering effects of super storm sandy continue to pinch gas supplies. >> $60 just to fill the tank up. >> reporter: many plants typically go down for routine maintenance during winter, when colder weather means fewer drivers on the road. other refineries are switching over to produce summer gasoline, a special blend that costs more. >> i think we'll peak out between $3.80 and $410. i think the upper great lakes has a potential to go well above $4, as does california. >> reporter: this is the time of year when gasoline prices typically start inching up. for example, over the last two years, gas has been almost 10% more expensive in the spring than the fall. and this year, the incre
CBS
Feb 20, 2013 5:00pm EST
these big problems. and obviously, it creates a lot of uncertainty in our economy. >> reporter: now, if those cuts go through, more than 12,000 people could lose their jobs in the state of maryland alone. and education could lose about $55 million in funding for next year. i'm vic carter. live at the white house. now back to you. >> all right, vic. >> on television hill. >> thank you, vic. >>> republicans do not agree with the president's approach to the looming budget crisis. today, wjz spoke to maryland's only republican congressman andy harris for reaction to the president's message. >> we disagree with the president. we think this government should be working on a budget that eventually balances. the president's budget never balances. the ryan budget this year and the house republican budget will balance in 10 years. >> and congressman harris represents maryland a first district. >> the maryland gas station sells the winning mega millions lottery ticket. christie ileto has more on the mystery surrounding the winner. >> reporter: somewhere in
CBS
Feb 20, 2013 6:00pm EST
these big problems. and obviously, creates a lot of uncertainty in our economy. >> reporter: just how badly would maryland be affected by this? the state is home to 60 military bases. and nonfederal facilities. >> reporter: now, if those cut dos go through, more than 12,000 people in maryland could lose their jobs. and tension could lose about $55 million in funding for next year. i'm vic carter at the white house. now back to you on television hill. >>> and republicans do not agree with the president's approach to the looming budget crisis. today, wjz spoke to maryland's only republican congressman, andy harris, for his reaction to the president's message. >> we're happy that the senate is actually going to pass a budget this year. we hear the president eventually will send a budget to capitol hill. it's too bad that it's three weeks late already. it may be a month or two late. but this year, for the first time, in recent years, the senate, the president and the house will have a budget that we can talk about and hopefully come to an agreement o
CBS
Feb 22, 2013 4:00pm EST
spending cuts scheduled to begin march 1st will hurt their economies. the governors were in for a national governor's association meeting this weekend. the president has proposed averting $85 billion in cuts this year. republicans opposed further increases in tax revenue, unless it's used to lower tax rates. that's your money watch. for more, go to cbsmoneywatch.com. in new york, i'm alexis christoforous. >>> the red carpet is out. and crews are hard at work, setting the stage for the 85th annual academy awards. bigad shaban reports from hollywood. with predictions from a film critic, who has covered the oscar for 25 years. >> reporter: it's she time for -- show time for crews outside of hollywood's dolby theater. and catherine key from naples, florida, says she's been waiting to catch a glimpse, her entire life. >> it's just amazing. i mean, until you're actually here, you don't really -- you just don't know what it's like. >> reporter: los angeles times writer, glen whip, has covered the oscars for 25 years. and says argo is this ye
CBS
Feb 16, 2013 8:00am EST
economy." >> thank you for having me. >> we were talking about the great recession, so many people losing work was difficult. in particular the baby boomers losing their job, in part because of ageism. >> absolutely. that cohort has really been slammed so much. the thing is that's the elephant in the room. ageism does exist. and so to pryetend like it doesn't doesn't do any good. it's a plan to repackage yourself. >> you say a lot of employers will look at you and think of you as old and if you're in your 50s you're probably paid more than your younger workers. you're caught dubably. you're too expensive and you're too old. how do you deal with that? >> you have to play in different ponds. a lot of teams people go back to the things that they know. that may or may not work as strategy. really what you have to do is say let me see how i can repackage my skills, look at other ponds that might value me. that's really how you fight that. >> you're look at a mini reinvention. how does that look on paper? >> a lot of times it can be very scary. maybe take on a project.
CBS
Feb 19, 2013 7:00am EST
the sanctions are working because we hear an awful lot about problems within the iranian economy. but ultimately we're going to have to see what our policy is as the president said, containment is not enough. and all options are on the table. but these are important talks because they do have to be a multilateral push to isolate iran internationally. >> you were the only one at the table that knows what it's like to step down as secretary of state. how do you think hillary clinton is feeling? do you all have secretary of state withdrawal? >> well, i don't know about her. i certainly did. >> did you? >> i think part of the issue is you go like a bat out of hell basically -- >> yeah. >> until kind of noon of the day that you don't anymore. and you have always read the papers and followed you guys on news. and you think, i have to say some being that. and all of a sudden you're not secretary of state, and you don't have to say anything about it. but there is a certain amount of withdrawal. and i loved being secretary of state. so it's -- you know there's so many
Search Results 0 to 25 of about 26